PriceOye.pk has recently raised an undisclosed amount of funding in its ongoing Pre-Series round led by the US-based Venture Capital fund SOSV. Similarly, last year the platform announced the seed funding round conducted by Fatima Ventures.
It is heartening to note that Pakistani startups continue to gain investments in international space. Airlift entered the grocery delivery segment with an investment of $10 million in July this year. Speaking on the occasion, the CEO of PriceOye.pk Adnan Shafi said:
“One of the biggest problems with online shopping in Pakistan is a counterfeit product. PriceOye.pk is bringing transparency and trust to the online shopping experience helping the 210 million Pakistani consumers seamlessly buy certified products at low prices. Our focus on customer happiness has made PriceOye.pk a leading E-Commerce platform in Pakistan, and we look forward to going further with the support from SOSV.”
The company stated that it would utilize the funds for its market share expansion. It also committed to continuing to serve the growing needs of Pakistani consumers in these challenging times. Pakistan has witnessed a massive growth in the e-commerce market during COVID-19. The country has over 160 million mobile users, of which 81 million are connected to the internet, making it the ninth state with the most significant number of mobile users in the world.